HM Treasury in the United Kingdom has begun calling for candidates to lead the central bank’s digital currency team behind efforts for a digital pound.
In a job posting posted on LinkedIn on Jan. 24, the UK Treasury called for a team leader for its payments and fintech team of around 20 people focused on exploring a “potential digital pound.” According to the posting, the CBDC head would set the “strategic direction” for Treasury’s efforts to develop a digital currency in line with the government’s agenda, and analyze potential policy issues for lawmakers.
“Treasury and the Bank of England are working together through the CBDC Taskforce to look into the case for a digital pound,” the job posting said. “Treasury and the Bank of England have committed to joint consultations on a possible digital pound, and the successful candidate will lead the Treasury team in the aftermath of the consultation issuance, including working with the Bank of England to consider consultation responses. “
Many UK legislators and industry leaders have all offered their two cents – or rather pence – for the introduction of a CBDC as the space for digital assets expands. Tony Yates, a former senior adviser to the Bank of England, advised against CBDCs in a January interview, arguing that it was “not worth the cost and risk”. The current governor of England’s central banks has also expressed skepticism about a digital pound.
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The UK has faced major leadership shakeups, from the government gaining three prime ministers in a matter of months to the death of Queen Elizabeth II in September 2022. However, lawmakers continue to consider policies related to regulation and enforcement of digital assets.
At the time of publication, 16 applicants had applied for the CBDC role at Treasury.